Sadis & Goldberg LLP Expands Financial Services Litigation Practice

Sadis & Goldberg has expanded its litigation team with the addition of Counsel James Ancone. Mr. Ancone’s practice focuses on financial services litigation. In particular, he has extensive experience advising clients, including liquidators, officers, and directors, involved in cross-border disputes. He recently represented the officers and directors of a Cayman Islands reinsurance company in the Davis v. Scottish Re Grp. Ltd. shareholder action in the New York State Commercial Division. He secured dismissal and affirmance on appeal of a majority of the claims, successfully arguing that Cayman Island law applied. After the reinsurance company entered into liquidation proceedings in the Cayman Islands and Bermuda, Mr. Ancone advised the company’s Joint Official Liquidators. The case has created important New York precedent regarding the application of Cayman Islands law on issues that impact investors, officers, and directors of Cayman Islands entities, such as shareholder standing and the existence of fiduciary duties.

Separately, he secured a complete victory on summary judgment in the Southern District of New York for an international bank in a customer dispute regarding the purchase of notes for a non-discretionary account. After obtaining a judgment of non-liability, he further convinced the court to issue an anti-suit injunction that required the customers to dismiss with prejudice a parallel lawsuit that they had commenced in Uruguay based on the same bond purchases. He also regularly counsels investment advisers.

“I am thrilled to join the team at Sadis & Goldberg, said Mr. Ancone. “I look forward to adding to the firm’s deep expertise in advising clients in the financial services sector.”

Douglas Hirsch, Partner and Head of Litigation, said, "We are excited and privileged to have Jim join our firm. His experience and breadth of knowledge of cross-border disputes will help us continue to expand and adapt our litigation practice to better serve our clients."